Page:United States Statutes at Large Volume 47 Part 1.djvu/301

 72d CONGRESS. SESS. I. CH. 209. JUNE 6,1932 . 277 under this section is hereby indemnified against the claims and MISCELLANEOUS TAXES demands of any per son for the amount of any p ayments ma de in a ccordanc e with t he provi sions of this se ction. Par t VII- Tax on Boats Tax on boats. SEC. 761. TAX ON USE OF BOATS. Effective dates. (a) On and after July 1, 1932, and on July 1, 1 933, and als o at the time of the original purchase of a new yacht or other boat by a user, if on any other date than July 1 and before July 1, 1934, there is hereby imposed upon the use of yachts, pleasure boats, power boats, sailing boats, and motor boats with fixed or outboard engines, Exceptions . not used exclusively for trade, fishing, or national defense, a tax a t the fo llowing rates 1 Length over 28 feet and not over 50 feet, $10. Rat es. 2 Length over 50 feet and not over 100 feet, $40. 3 Length over 100 feet and not over 150 feet, $100. 4 Length over 150 feet and not over 200 feet $150 . (5) Length over 200 feet, $200. (b) In the case of any 'of the foregoing if foreign built and Additional, if foreign not owned on January 1, 1926, by a citizen of the United States built, etc' or by a domestic part nership or corporation, the tax under this section shall be twice the amount of the tax provided in subsec- tion (a). (c) In determining the length of any of the foregoing, the meas- Determining length. urement of over-all length shall govern. (d) In the case of a tax imposed at the time of the original pur- Proportioning tax on chase of a new y acht or boat on any othe r date than July 1, the amount to be paid shall be the same number of twelfths of the amount of the tax as the number of calendar months (including the month of sale) remaining prior to the following July 1. (e) This section shall not apply to any yacht or other boat which Tax exempt b oats. is use d wit hout p rofit by a ny ben evole nt, c harit able, or re ligio us organization, exclusively for furnishing aid, comfort, or relief to seamen. (f) The taxes imposed by this section shall be collected and paid . Re gulation s govern - in such manner as the Com missioner , with the approval of the prescribed. Secret ary, sha ll by re gulation s prescr ibe. (g) All provisions of law (including penalties) applicable in Provisions of Reve. res pect of the taxes imposed by section 702 of the Rev enue Act cable ct of 19 20 aypu • of 1926 shall, in so far as applicable and not inconsistent with this loi_ 4s ., p. 9s. Act, be applicable in respect of the taxes imposed by this section. Part VIII--Administrative Provisions Administrative pro. visions. SEC. 771. PAYM ENT OF TAXES. Payment of taxes . The taxes imposed by Parts I, IV, V, and VI of this title shall. When due and pay- , without assessment by the Commissioner or notice from the collector, able' be due and payable to the collector at the time fixed for filing the return. If the tax is not paid when due, there shall be added as In terest on overdu e part of the tax interest at the rate of 1 per centum a month from tax es' the time the tax became due until paid. SEC. 772. REFUNDS AND CREDITS. Refunds and credits. (a) Credit or refund of any overpayment of tax imposed by Part Antetpp 270,27" 27 6. I, V, or VI of this title may be allowed to the person who collected the tax and paid it to the United States if such person establishes, to the satisfact ion of the Commissioner, under such regulations as the Commissio ner with the approval of the Secretary may pre-